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UK Q3 GDP final QQ +0.4% vs +0.5% exp

Final Q3 reading now out

  • +0.5% prev
  • yy +2.1% vs +2.3% exp/prev
  • Q3 Current Account £-17.5bln vs -21.5bln exp vs -17.5bln prev revised down from -16.8bln
  • Q3 labour costs +2.0% yy, +0.3% qq
  • total business investment qq +2.2% as exp/prev
  • household disposable income qq +0.5%
  • yy +5.8% vs +6.6% prev
  • index of services mm +0.1% vs +0.2% exp vs +0.5% prev revised up from +0.4%
  • 3mth/3mth +0.5% vs +0.6% exp/prev
  • Lloyds business barometer 45 vs 55 prev

Not good news for the GBP bulls and the pound is slipping albeit not tumbling. Better than exp c/a data helping to temper losses as is higher household disposable income

Re current account data the ONS says

The total trade deficit widened to £8.7 billion in Quarter 3 (July to September) 2015, from £4.7 billion in Quarter 2 (April to June) 2015. This was primarily due to a £5.4 billion widening in the trade in goods deficit partially offset by a £1.4 billion widening in the trade in services surplus .

Full data releases from the ONS here

GBPUSD 1.4838 EURGBP 0.7361

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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